Swiss National Bank Chairman Schlegel said the SNB has not yet seen clear second-round inflation effects but cannot rule out that possibility and will monitor developments closely.

Domestic News: 1. The People's Bank of China (PBOC) conducted 300 billion yuan in reverse repurchase operations on November 5th. 2. Five departments issued the "Action Plan for Implementing a Comprehensive Conservation Strategy," accelerating the deployment of a number of rare and precious metal resource recycling projects. 3. The Ministry of Commerce reported positive progress in recent China-Canada trade consultations, including further extending relevant exemptions under the preliminary joint arrangement. 4. The compilation scheme for the Shanghai Stock Exchange-Hong Kong Stock Connect Index has been revised: securities with an average daily turnover of less than HK$5 million over the past year have been removed. International News: 1. A blue wave emerged in the US midterm elections, with Democrats regaining control of Congress. 2. Vance published a lengthy article: the midterm election loss was due to the war. 3. The US Treasury Department adjusted its wording, opening the door to adjusting the auction size. 4. British media: US-Russia diesel trade is expected to be hindered; two tankers en route have already been diverted. 5. Downplaying the impeachment of the president, US Democratic leaders seek to lift Trump's tariffs and end the war with Iran. 6. Overnight Market Update—Spot gold and silver surged, crude oil plummeted, the Dow Jones rose 3%, tech stocks showed significant divergence, and the 2-year US Treasury yield fell by over 5 basis points. 7. Foreign media reports that Trump is seeking advice on whether to replace his defense secretary, who is reportedly seeking a Tennessee senator position as a "parachute." 8. Following his midterm election defeat, Trump stated he is willing to cooperate with the Democrats, is not afraid of impeachment, will not replace the defense secretary, and acknowledges that one of the key reasons for his defeat was the war, and he will decide for himself when the war ends. 9. Middle East Situation— ① International crude oil prices once plummeted by 10%, as the market increased bets on a de-escalation of the situation with Iran. ② Lebanese media: Gulf states oppose another war with Iran, and US-Iran negotiations are expected to make clearer progress on Friday. ③ US media: Trump believes he has been misled on the Iran issue, and his officials are already looking for new jobs. ④ Mujtaba: Changes in US political parties will not change its hostile attitude towards Iran.

The U.S. Treasury has reached a $6 billion limit on its repurchase of 10- to 20-year Treasury bonds.